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The fears emerged as the US bond yield curve "inverted" for the first time since 2007, meaning long-term bonds started earning less interest than short-term ones.

The trend has preceded every American recession in the past 50 years.

But AMP Capital chief economist Shane Oliver says on this occasion it was only short-lived.

"A lot of the talk about yield curve inversion was a bit over the top," he told AAP.

Nonetheless, Dr Oliver said the markets are likely to remain "fairly choppy" in the months ahead, unless there is some resolution to the trade war between the US and China or more economic stimulus.

"We're probably in for a continuing bout of volatility in markets."

This week, Dr Oliver expects investors will be particularly keen to check out the Purchasing Managers' Index surveys coming out on Thursday.

They will tally business conditions in several countries for August, including Australia.

Investors will also be focusing on what central banks have to say.

The Reserve Bank of Australia will on Tuesday release the minutes from its August board meeting, which might include more detail on its stance that it would further reduce the interest rate "if needed".

RBA Govenor Philip Lowe will also address the Jackson Hole symposium in Wyoming on Saturday, an annual event focused on economic policy.